Tesla, BYD capitalize on Korean automakers' wage strike

Tesla and BYD are gaining ground in Korea, filling the void created by prolonged labor strikes at major domestic automakers in August. Combined domestic sales by Hyundai Motor, Kia, KGM, Renault Korea and General Motors (GM) Korea fell 28.3 percent from a year earlier to 79,601 vehicles last month, according to data from the Korea Automobile Importers & Distributors Association (KAIDA). All the five carmakers reported year-on-year declines. Hyundai Motor was hit particularly hard, with domestic sales plunging 41.1 percent to 34,333 vehicles. Production disruptions caused by a series of partial strikes by its union weighed heavily on vehicle output and deliveries. Hyundai workers staged partial walkouts from July through August, with the cumulative strike time reaching about 60 hours. This is estimated to have caused production losses of roughly 55,000 vehicles. Kia fared better, but its domestic sales still declined 7.6 percent to 40,213 units. The automaker was also affected by the strike and reduced production days during the summer vacation season. The fall in sales shows that supply-s